{"id":3858,"date":"2019-02-07T08:58:55","date_gmt":"2019-02-07T08:58:55","guid":{"rendered":"http:\/\/itatonline.org\/digest\/dhanalakshmi-bank-ltd-v-cit-2019-410-itr-280-ker-hc-2\/"},"modified":"2019-06-26T01:10:39","modified_gmt":"2019-06-26T01:10:39","slug":"dhanalakshmi-bank-ltd-v-cit-2019-410-itr-280-ker-hc-2","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/dhanalakshmi-bank-ltd-v-cit-2019-410-itr-280-ker-hc-2\/","title":{"rendered":"Dhanalakshmi Bank Ltd.  v. CIT (2019) 410 ITR 280\/ 261 Taxman 521\/ 177 DTR 48\/ 308 CTR 484 (Ker.)(HC)"},"content":{"rendered":"<p>Allowing the appeal of the assessee Court held that; The Income-tax Act, 1961 does not define what is &#8220;an undertaking&#8221; or what is an &#8220;industrial undertaking&#8221;. Words used in a statute dealing with matters relating to the general public are presumed to have been used in their popular rather than their narrow, legal or technical sense. The expression &#8220;industrial undertaking&#8221; therefore, should be understood to have been used in section\u00a035D\u00a0of the Act in a wide sense, taking in its fold any project or business a person may undertake. Hence a bank extending financial services, would be entitled to amortisation of preliminary expenses in connection with the issue of shares for public subscription. (AY. 1996 -97 to 2006 -07)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 35D : Amortisation of preliminary expenses-Bank extending financial services is an industrial undertaking\u2014Entitled to benefit. [S. 37(1)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3858","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-10e","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3858"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3858\/revisions"}],"predecessor-version":[{"id":5963,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3858\/revisions\/5963"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}